By Jemimah Wellington, JKNewsMedia Reporter
THE MANAGEMENT and staff of the Nigerian National Petroleum Company (NNPC) Ltd have warmly welcomed the appointment of Bayo Ojulari as the new Group Chief Executive Officer (GCEO).
A statement issued by the company notes that his appointment, made by President Bola Ahmed Tinubu, marks a significant leadership transition for the state-owned oil corporation.
NNPC also expressed appreciation for the dedicated service of the outgoing GCEO, Mele Kyari, and the former Board Members, describing their inputs to the company as immeasurable and dedicated service to the company and the nation.
They said Kyari’s tenure saw significant milestones in Nigeria’s oil sector, leaving behind a legacy that Ojulari and his team will now build upon.
A New Era for NNPC
With his extensive industry experience and a clear mandate from the presidency, Ojulari steps into this role at a critical juncture.
His leadership will determine the trajectory of NNPC’s ongoing reforms and its ability to meet national energy demands while navigating the evolving global energy landscape.
Ojulari brings over three decades of experience in the global oil and gas industry, having worked extensively in Africa, Europe, and the Middle East.
A graduate of mechanical engineering from Ahmadu Bello University, he has held key leadership roles at Shell and other major petroleum firms, demonstrating expertise in asset management, production optimisation, investment evaluation, and strategic negotiations.
His career began as a field and process engineer at Elf Petroleum Nigeria before moving to Shell in 1991.
Over the years, he climbed the ranks, holding various executive positions, including Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO).
Notably, Ojulari played a significant role in Renaissance African Energy Company’s recent acquisition of Shell Petroleum Development Company (SPDC), further solidifying his influence in the sector.
Strategic Targets and Industry Expectations
Under the new leadership, NNPC has been tasked with significantly increasing Nigeria’s crude oil refining capacity. President Tinubu has set ambitious targets of raising NNPC’s refining output to 200,000 barrels per day (bpd) by 2027 and 500,000 bpd by 2030.
Additionally, the government aims to boost national crude oil production to two million barrels per day by 2027 and three million by 2030, while ramping up gas production to 10 billion cubic feet daily by the same year.
As Nigeria’s state-owned oil giant, NNPC plays a pivotal role in driving these objectives. With multiple joint ventures in upstream exploration and production, Ojulari’s expertise in strategic planning and asset development will be instrumental in achieving these goals.
